{"id":6194,"date":"2018-09-14T10:16:58","date_gmt":"2018-09-14T02:16:58","guid":{"rendered":"https:\/\/skale.today\/?p=6194"},"modified":"2018-09-14T10:16:58","modified_gmt":"2018-09-14T02:16:58","slug":"5-step-guide-e-commerce-singapore","status":"publish","type":"post","link":"https:\/\/www.skale.today\/content\/2018\/09\/14\/5-step-guide-e-commerce-singapore\/","title":{"rendered":"E-Commerce In Singapore: A 4-Step Guide To Get Started"},"content":{"rendered":"<p>The e-commerce industry has been steadily growing in the past few years. <a href=\"https:\/\/www.todayonline.com\/business\/google-temasek-see-s-e-asia-web-economy-reaching-us200-billion\">Google and Temasek Holdings report<\/a> that the market size for Singapore\u2019s e-commerce industry will grow to US$5.4 billion by 2025.<\/p>\n<p>Today, many <span style=\"color: #ff0000\"><a style=\"color: #ff0000\" href=\"https:\/\/skale.today\/2018\/07\/17\/sustaining-brick-mortar-stores-3-major-tips-customer-relations\/\">brick-and-mortar retailers are supplementing their physical sales through online distribution platforms.<\/a> <\/span>If you are looking to get a foot into the world of e-commerce, then read on to see just how you can go about it.<\/p>\n<h2>1. Plan It Out<\/h2>\n<p>Your business plan will be the blueprint of how your business will operate and develop. You need to write a plan that helps remind you of your vision and objectives as you get further down the line.<\/p>\n<p>Your initial plan can be both exciting and daunting at the same time. With so many things going on, it is easy to feel overwhelmed by all the options available to you. So before that happens, <span style=\"color: #ff0000\"><b>try making a checklist of some basic things:<\/b><\/span><\/p>\n<ul>\n<li>Executive summary: an overview of the entire plan.<\/li>\n<li>Company descriptive: explanation of your identity and operating procedures as a business.<\/li>\n<li>Products\/Services: an overview of your sales values and customer niche.<\/li>\n<li>Market analysis: a description of your target customers, competitors and industry.<\/li>\n<li>Company strategy: an outline of your sales, marketing operations, strategies and plans.<\/li>\n<li>Organisation and management: a summary of your company\u2019s organisational design<\/li>\n<li>Financial projection and plans: an analysis of your profits and costs<\/li>\n<\/ul>\n<h2><strong>2. Learn About The Laws and Regulations [restrict]<\/strong><\/h2>\n<p><span style=\"color: #ff0000\">Internet content in Singapore is classified as broadcast media content<\/span>, therefore subject to the regulations of the <a href=\"http:\/\/eresources.nlb.gov.sg\/infopedia\/articles\/SIP_861_2005-01-11.html\">Singapore Broadcasting Authority (SBA).<\/a><\/p>\n<p>Under the Singapore Broadcasting Authority (SBA) act, <span style=\"color: #ff0000\"><b>all broadcasting services, including computer online services provided by Internet Service Providers (ISPs) and Internet Content Providers (ICPs) must be license<\/b>d.<\/span>\u00a0Certain persons are automatically licensed. This includes e-commerce website owners.<\/p>\n<p>Furthermore,<b> all e-commerce companies are required to abide by the Internet Code of Practice.<\/b> Depending on the products you intend to sell, there are some regulations that must be followed:<\/p>\n<ul>\n<li>Online gambling service providers are regulated by the <a href=\"https:\/\/sso.agc.gov.sg\/Act\/BA1960\">Betting Act (2011)<\/a> and the <a href=\"https:\/\/sso.agc.gov.sg\/Act\/CGHA1961\">Common Gaming Houses Act (1985)<\/a><\/li>\n<li>Online financial service providers are subject to Singapore\u2019s <a href=\"https:\/\/sso.agc.gov.sg\/Act\/CoA1967\">Companies Act (1967)<\/a> and its provision on financial services<\/li>\n<li>E-commerce companies selling second-hand goods are subject to the <a href=\"https:\/\/sso.agc.gov.sg\/Act\/SGDA2007\">Second Hand Dealers Act (2007)<\/a>. A license must be obtained from the Deputy Commissioner of Police<\/li>\n<li>Promotional activities on the internet are subject to the Common Gaming House Act (1985) and the <a href=\"https:\/\/sso.agc.gov.sg\/Act\/PEA1958\">Public Entertainment Act (2001)<\/a><\/li>\n<li>Online advertising is regulated by <a href=\"https:\/\/asas.org.sg\/code\">the Singapore Code of Advertising Practice<\/a>, the <a href=\"https:\/\/sso.agc.gov.sg\/Act\/CMA1993\">Computer Misuse Act (2007)<\/a> and <a href=\"https:\/\/sso.agc.gov.sg\/Act\/CPFTA2003\">Consumer Protection Act (2009) .<\/a><\/li>\n<\/ul>\n<h2><strong>3. Register Your Business <\/strong><\/h2>\n<p>Registering your business in Singapore is a rather straightforward process. As long as all the requirements are met, the Singapore Trade Register has no reason to deny your registration.<\/p>\n<p>To incorporate your company in Singapore, you need to provide the following documents:<\/p>\n<ul>\n<li>Company name<\/li>\n<li>Brief description of business activities<\/li>\n<li>Shareholders\u2019 particulars<\/li>\n<li>Directors\u2019 particulars<\/li>\n<li>Registered address<\/li>\n<li>Company secretary particulars<\/li>\n<li>Constitution<\/li>\n<\/ul>\n<p>Before registering your business, you should be aware of the following requirements:<\/p>\n<ul>\n<li><b><b><span style=\"color: #ff0000\">Your company name should be approved before incorporation<\/span><\/b><\/b><\/li>\n<li>You are required to<b><b><span style=\"color: #ff0000\"> appoint<\/span><span style=\"color: #ff0000\"> at least one resident director who is at least 18 years old, not bankrupt, and free of any malpractice charges.<\/span><\/b><\/b><\/li>\n<li>You can have between <span style=\"color: #ff0000\"><b>1-50 shareholders<\/b>.<\/span> These can be both<b><span style=\"color: #ff0000\"> local and non-local individuals or companies.<\/span><\/b> After incorporation, shares can be freely issued or transferred at any time.<\/li>\n<li>You are required to <span style=\"color: #ff0000\"><b>appoint a qualified resident company secretary within 6 months of your company\u2019s incorporation<\/b>.<\/span> Sole directors and\/or shareholders are not allowed to act as a company secretary.<\/li>\n<li><span style=\"color: #ff0000\"><b>You need a minimum of S$1 worth of paid-up capital to register a company in Singapore.<\/b><\/span> This amount can be increased at any time after incorporation.<\/li>\n<li>You are required to <span style=\"color: #ff0000\"><b>provide a physical registered address that is local and within Singapore<\/b><\/span>. P.O. Boxes do not constitute as a physical address.<\/li>\n<\/ul>\n<h2><strong>4. Setting Up Business Infrastructure<\/strong><\/h2>\n<p>After the basic steps have been acknowledged, you will want to think about your business\u2019 infrastructure. This includes anything required to make sales and deliveries of your business, both online and offline.<\/p>\n<p>There is no set way of going about this process, as <b>you will want to choose an infrastructure that meets your business strategies.<\/b> This will be best handled by you, but here are some things to take note of:<\/p>\n<h5><b>Website Development &amp; Design<\/b><\/h5>\n<p>This includes<span style=\"color: #ff0000\"> registering a domain name, finding a hosting service provider for your website and designing the look and feel.<\/span> There are many online retailers who opt for E-commerce platforms like Lazada, Carousell and Ebay. This eliminates the costs of creating their own website,but requires them to follow the platforms\u2019 rules and regulations.<\/p>\n<h5><b>Web Marketing<\/b><\/h5>\n<p>You will need to get your website seen to drive traffic, especially in the early stages. <span style=\"color: #ff0000\">Business owners tend to utilise online advertising for this matter.<\/span>\u00a0Online advertising is the one of the fastest and cost-effective ways to market your website and acquire new customers.<\/p>\n<p>A popular long-term approach to marketing is to create valuable content that customers can engage with. <b>This will give your website credibility and visibility over time.<\/b><\/p>\n<h5><b>Operations &amp; Customer Support<\/b><\/h5>\n<p>No matter the nature of your business, you will want your customers to be able to reach you should they have troubles with your products and services.<\/p>\n<p>The more you are able to help them, the better your customers will rate you. <span style=\"color: #ff0000\">You may only need a simple set-up such as a customer-support e-mail, but you will want to monitor it diligently.<\/span><\/p>\n<h5><b>Managing Your Finances<\/b><\/h5>\n<p>Managing your finances is an important part of any business. For an e-commerce business, most of your transactions will be handled through an online payment gateway. There are two options here: <span style=\"color: #ff0000\"><b>(a) Hosted Payment Gateway<\/b><\/span> or <span style=\"color: #ff0000\"><b>(b) Integrated Payment Gateway.<\/b><\/span><\/p>\n<ul>\n<li><b>Hosted Payment Gateway<\/b><\/li>\n<\/ul>\n<p>This option poses an advantage because it is easy to set up and the payment gateway will be handle compliance methods and data security.<\/p>\n<p>The downside to this is that customers will be redirected to the payment gateways\u2019 website. <span style=\"color: #ff0000\">Customers who are unfamiliar with the site may use this as a reason to cancel a transaction.<\/span><\/p>\n<ul>\n<li><b>Integrated Payment Gateways<\/b><\/li>\n<\/ul>\n<p>Integrated payment gateways connect your e-commerce site via the payment gateway\u2019s application programming interface (API). An API essentially\u00a0<a href=\"http:\/\/paweljaniak.co.za\/2011\/09\/26\/the-api-in-layman-s-terms\/\">allows a piece of software to interact and connect with another piece of software<\/a>. <span style=\"color: #ff0000\"><b>This benefits customers, as they do no have to leave your website to complete a transaction.<\/b><\/span><\/p>\n<p>However, you are liable for the integration process and in managing security compliance. You are also required to open a merchant account to receive your debit and credit card payments.<\/p>\n<p>Both options have their set of advantages and disadvantages.<\/p>\n<h4><b>If you are new to e-commerce, then using a Hosted Payment Gateway initially will help you to get a hold of how the transaction process works.\u00a0<\/b><\/h4>\n<p><strong>To summarise it all,\u00a0<\/strong><span style=\"color: #ff0000\">E-commerce presents an enormous opportunity for small business owners to get into<\/span>. Initially, there are many things to consider and it will require a substantial investment of your time, energy, skills and money.<\/p>\n<p>All this, combined with the legal framework you must abide by, will surely make it a challenge. This is no small enterprise, <b>so you will be required to plan and prepare in order to succeed.<\/b><\/p>\n<blockquote><p><strong>Actionable Takeaway<\/strong><\/p>\n<p>Although it may seem tough, there are many e-commerce businesses out there that will provide you with examples to follow-through on.<\/p>\n<p>Try visiting e-commerce platforms like Lazada, Shopee or Carousell to see how retailers go about selling their products. It is daunting, but with enough patience, skill, and dedication, the fruits of your labour are bound to pay off.<\/p><\/blockquote>\n<p>[\/restrict]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The e-commerce industry has been steadily growing in the past few years. Google and Temasek Holdings report that the market size for Singapore\u2019s e-commerce industry will grow to US$5.4 billion by 2025. Today, many brick-and-mortar retailers are supplementing their physical sales through online distribution platforms. If you are looking to get a foot into the&hellip; <a class=\"more-link\" href=\"https:\/\/www.skale.today\/content\/2018\/09\/14\/5-step-guide-e-commerce-singapore\/\">Continue reading <span class=\"screen-reader-text\">E-Commerce In Singapore: A 4-Step Guide To Get Started<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":6209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22,44,46],"tags":[424,427,428,297],"class_list":["post-6194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-e-commerce","category-pushads","tag-business-singapore","tag-e-commerce-singapore","tag-ecommerce","tag-online-business","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>E-Commerce In Singapore: A 4-Step Guide To Get Started - sKale<\/title>\n<meta name=\"description\" content=\"Google and Temasek Holdings report that Singapore\u2019s e-commerce industry will grow to US$5.4 billion by 2025. 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